[News] Intel Suspended Investment in French and Italian Chip Plants

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Recently, after reporting a loss of USD 7 billion in its manufacturing business for 2023, Intel stated that its investment in France and Italy could not be realized for the time being, which is worth several billion euros and can potentially create thousands of jobs. Relevant investment plans for chip plants mentioned above may have been suspended.

Intel noted in a statement, “Investment in France has been paused,” citing “significant changes in economic and market conditions” since 2022.

The company had selected a location southwest of Paris as a new R&D center for artificial intelligence (AI) and high-performance computing (HPC). The center is planned to open by the end of 2024 and will employ 450 people.

Intel added that the “scope” of the project is undergoing adjustment, and France remains a choice for Intel’s future R&D center.

Two years ago, Intel began negotiations with Italy on plans to invest up to EUR 4.5 billion to build a manufacturing plant in the country. This plant would create 1,500 jobs for Intel and 3,500 jobs for suppliers.

When it comes to the status of the Italian plant, Intel said it currently focused on its active manufacturing projects in Ireland, Germany, and Poland. However, Italy’s Minister of Business, Adolfo Urso, stated in March of this year that Intel had delayed its investment in Italy.

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(Photo credit: Intel)